Latest News | Zensar Technologies Net Profit Rises 11.7 Pc to Rs 89.2 Cr in Sep Quarter

New Delhi, Oct 29 (PTI) Zensar Technologies on Thursday reported 11.7 per cent rise in net profit to Rs 89.2 crore for the second quarter ended September 30.

It had posted a profit of Rs 79.9 crore in the year-ago period, Zensar Technologies said in a statement.

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"In Q2 FY21, including the exceptional item of loss amounting to Rs 887 million on account of adjustment in respect of excess of carrying amount, including goodwill over the recoverable amount on classification as 'Held for Sale', reported PAT is Rs 5 million," Zensar said in the statement.

The company's operating revenue declined 8.7 per cent to Rs 979.4 crore in the reported quarter from Rs 1,072.3 crore in the same period last fiscal, it added.

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The digital segment accounted for 61 per cent of the overall revenues in the second quarter of FY21, it added.

"We have seen all our key metrics performing steadily in Q2FY21, as our adjusted PAT for the operating business at 9.1 per cent was an increase of 24 per cent quarter-on-quarter in USD terms. Our revenue has grown 0.6 per cent on q-o-q basis," Zensar Technologies CEO and MD Sandeep Kishore said.

Zensar's Digital Foundation Services continues to perform consistently, posting year-on-year growth of 11.4 per cent, he added.

"...we have seen stability in Consumer Services business as it grew 12.8 per cent sequentially and with the addition of new logos in our Financial Services business which has increased by 6.7 per cent q-o-q," he said.

The company won USD 175 million worth of TCV (total contract value), including renewals in the quarter under review, he added.

Its total headcount stood at 8,614, while attrition was at 11.7 per cent.

The Board has given in-principle approval for amalgamation/merger of its wholly-owned subsidiary Cynosure Interface Services with the company.

The proposed amalgamation/merger is to simplify and streamline the group structure of the company and reduce administrative costs, the statement said.

The proposal will be subject to the approvals of the National Company Law Tribunal, shareholders and creditors of the company.

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